News blog
Tasty
- BY: Andrew Hore |
- POSTED: 09/09/2008 |
Oriental restaurants operator Tasty increased its first half turnover by52%
Turnover rose from £2.44m to £3.72m in the six months to June 2008. The reported loss fell from £137,000 to £92,000.
Pre-opening costs increased from £92,000 to £107,000 and there were also redundancy costs of £50,000.
Tasty added two restaurants in the period, taking the total to 10, and plans to open an Italian themed restaurant under the Wildwood brand.
There is still £1.99m in the bank. There was a small amount of cash generated from operations in the first half but not enough to finance additional new openings. A small loss is expected for the year as a whole so any more new openings will have to be financed out of the cash pile.
At 37p a share, Tasty is valued at £11.5m.
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